North West Sturgeon refinery costs leveling at $8.5 billion

The costs of building Alberta’s first new oil refinery in 30 years have stabilized and it’s on track to be up and running by 2017, says the chairman of the company developing the government-backed Sturgeon project.

Ian MacGregor, chairman and chief executive of North West Upgrading Inc., says that with close to $5 billion already spent, he expects the total cost of constructing the refinery to come within the company’s $8.5 billion estimate.

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